Redevelopment of 400 stations will be largest PPP in the world -Governance Now

Redevelopment of 400 stations will be largest PPP in the world

Rough estimation speaks of redevelopment cost of Rs 100 crore per station

GN Staff | December 4, 2015

#suresh prabhu #railway ministry #railway stations #CII

India's ambitious project to redevelop 400 railway stations through private sector investment will be the largest public-private-partnership (PPP) project in the world, Railway minister Suresh Prabhu said on Friday.

Speaking at the CII PPP summit, Prabhu said no railway in the world can survive on just ticketing revenues. "In long term we should target around 30-40% revenue from non-core business like commercial exploitation of our assets, Prabhu said.

The railways did not disclose the total project cost but he said no project of such proportion has been ever undertaken in the world.

As per rough estimates there would be an average redevelopment cost of Rs 100 crore per station.

As a part of the station redevelopment project, railways will have online bidding of stations and private players would be allowed to earn revenue through commercially exploiting the real estate.

He also said railways will soon have a sectoral regulator.

Comments

Other News

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Indian Railways celebrates 171 years of its pioneering journey

The Indian Railways is celebrating 171 glorious years of its existence. Going back in time, the first train in India (and Asia) ran between Mumbai and Thane on April 16, 1853. It was flagged off from Boribunder (where CSMT stands today). As the years passed, the Great Indian Peninsula Railway which ran the

Vasudhaiva Kutumbakam: How to connect businesses with people

7 Chakras of Management: Wisdom from Indic Scriptures By Ashutosh Garg Rupa Publications, 282 pages, Rs 595

ECI walks extra mile to reach out to elderly, PwD voters

In a path-breaking initiative, the Election Commission of India (ECI), for the first time in a Lok Sabha Election, has provided the facility of home voting for the elderly and Persons with Disabilities in the 2024 Lok Sabha elections. Voters above 85 years of age and Persons with Disabilities (PwDs) with 4